Richard operates a hair styling boutique out of his home., Ask an Expert

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Richard operates a hair styling boutique out of his home. 400 of the 2000 square feet of floor space are allocated to the boutique. Other information is as follows:

Gross income from the boutique $10,000
Supplies for the boutique 2,000
Depreciation on total residence 12,000
Utilities for total residence 6,000

What amount of income or loss from the boutique should Richard show on his return.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M940047

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